Posted on 09/29/2015 12:44:11 PM PDT by GIdget2004
GOP presidential front-runner Donald Trump's tax plan would cost just under $12 trillion over a decade, according to an analysis from a conservative-leaning group.
The Tax Foundation found that Trump's proposal would lose around $10.1 trillion when accounting for the potential economic growth that would be spurred by the tax changes.  The $12 trillion figure comes from more traditional scoring methods, akin to those employed by official federal scorekeepers. Trump himself has said that the plan — which slashes the top tax rates for both individuals and all kinds of businesses — won't add to the deficit.
But after the billionaire businessman released his plan, tax analysts were quick to question that claim and said that the top 1 percent of earners would be most likely to gain under Trump's proposals. Trump had said for weeks that his plan would go after Wall Street types who paid little to nothing in taxes.
The Tax Foundation found that the top 1 percent of earners would see their after-tax income rise between 21.6 percent and 27 percent under Trump's plan. The bottom 30 percent of taxpayers, on the other hand, would gain anywhere from 0.6 percent to 11.5 percent in after-tax income.
(Excerpt) Read more at thehill.com ...
“study finds”.
Yeah right. Like said above probably from the GOPe.
Boom. Nothing else has to be said on the matter.
Good.
We need to cut the size and scope of government by much more than $12 trillion over the next decade.
Why is it that every time the taxpayers get a break,the government types lament about how much it’s costing them?
It’s not the government’s money and the people are not a resource to be exploited.
“...study finds”...?
Idiot alert, idiot alert!
A 15% business rate would likely repatriate some $2 TRILLION in money stashed in overseas havens.
Cost??? I guess that must be the amount of money the gov won’t get from taxes. Only the gov uses the word ‘cost’ that way.
I am confused. “...price tag” that refers to how much something costs. It is the price you pay for something. It requires taking money and paying it. Then there is revenue or income which what you get when someone pays your price.
How does cutting taxes cost something? Spending tax dollars cost something because the things you buy have price tags.
The left continually preys on the profound economic ignorances of the masses.
He wants to pay down the national debt real bad.
This is the guy that wants a 60’ wall that is essentially a masterpiece, because he says it will become known as “the Trump Wall”. Can’t argue with that.
I think his presidency will be reasoned that way.
The national debt has to come down, because if he doesn’t make an appreciable dent in it, it would be a black eye for him.
I don’t think Trump just tossed out his tax plan without running it by some heavy-weights. He doesn’t want to look stupid if they can poke holes in it.
Good luck trashing this guy. I guarantee you he has heave-weights that will make these numbers crunchers look like Barney Fife with a slide rule.
You can cut taxes, or you can build a border wall and simultaneously increase the size of the military (two things Trump has promised), but I don't see how you can do both.
There is a 10% tax rate provision for repatriating funds from overseas.
Exactly. This “study” was cooked and seasoned to taste for the pallets of the GOPe.
Yes, the fallacy of too few alternatives.
“Cost” $12 trillion? Was bedeutet das?
Not the government. The new increases in revenue will GREATLY exceed that, with the new-found prosperity and greatly accelerated velocity of money, there will be far more people participating, and much of the “entitlement” spending would theoretically shrink.
Or it would in a more static model. As quickly as the old dependencies would be wiped out, more new ones would be created, even if the human problems have to be imported, or extended beyond the current national boundaries.
And that is just the new constituency that is being carved out. Nothing like that should be.
It enrages me when government officials talk about the “cost” [to government] of reducing taxes paid by The People.
The mind-set and assumptions behind such talk are anti-freedom and anti-Constitution.
Which is fine as long as Trump comes out with what the corresponding spending cuts will be.
Anyway, the chances a non-establishment Republican will get his tax plan rubber-stamped in Congress are nil, so all we can hope for anyway is that President Trump would push Congress in the right direction.
Yup.
Also why when libs increase taxes, they never take in what they project because they do not factor in the decreases in the economy/activity/services hammered bythe tax increases.
Only diff is they dont care because they are still separating you from your money. Trumps plan separates your money from them.
Cutting government by $12T is not cost, it’s cutting government.
According to Heritage, every illegal alien household that is deported or prevented from coming into the country saves the taxpayer $700,000. I doubt that they are calculating in deporting millions of the freeloading trespassers, which would significantly lower government spending.
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